New Social Trading Platform “PurpleButterflyTrading” to Launch in 2019
“PurpleButterflyTrading (PBT),” a social trading platform service for cryptocurrencies, is now in the final stages of development and is on track to launch in 2019. The service aims to provide a comprehensive trading “ecosystem” where individual investors can learn from seasoned trading professionals by gaining insight into their techniques, skill and portfolios.
Features of the new PBT platform include a “copy trading” function that merges the application programming interface (API) provided by cryptocurrency exchanges with social networking-style functions. This will enable users to “follow” influential traders or investors with savvy trading techniques and “copy” their trades or portfolios. Users will also be able to see information regarding the trades and portfolios of people they have followed.
By using API to connect to cryptocurrency exchanges around the world, PBT will also provide borderless trading with automatic translation and speech recognition functions to help overcome language barriers. The new platform will also hold “Trade Contests” for users to compete for PurpleButterfly Tokens (PBTT).
PBT users will be provided with “Gold” or “Black” status according the the amount of PBTT they possess, with accessible services increasing along with a rise in status. Some of the services provided to high-ranking users will include:
- Access to social games and contests;
- Access to information on market portfolios or market-related news;
- Ability to see priority signals of popular traders
PBT aims to provide incentives for both trading professionals and new investors alike. Traders with confidence in their strategies can share their technique with others and increase their PBT following, gain recognition for their skill and become market influencers. At the same time, individual investors can use the shared information to look for techniques best suited to their investment needs or style, leaning from skilled market professionals.